- Galaxy Digital transferred 108,278 ETH OTC, boosting wallet 0x0b26’s holdings to $ 365 million.
- Ethereum Exchange reserves fell by 0.34%, suggesting that holders withdraw ETH for long-term storage.
Galaxy Digital recently carried out a huge free available (OTC) transaction, which transferring 108,278 Ethereum [ETH] Waard $ 283 million to wallet 0x0b26.
After recording 89,000 ETH ($ 233.5 million) this step came from fairs within 12 hours. The receiving wallet now contains 139,476 ETH with a value of $ 365 million, which confirms a deep pocket interest rate.
OTC activity often avoids public order books, which suggests that strategic, long-term positioning instead of speculative trade.
This type of accumulation, in particular in the midst of low exchange reserves and stable prices, can be a reflection of the growing institutional confidence in the value process of Ethereum from medium to long term despite the continuous market insecurity.
Are whales their grip sharpening on ETH?
The concentration data on the chain revealed a subtle but meaningful shift. Whale ownership has risen by 2.34% over the past 30 days, while investment portfolios have grown by 4.12%.
Retail holdings, on the other hand, have shrunk by 1.37%, indicating a reduced activity of small traders.
This divergence emphasizes a growing imbalance in which long -term entities absorb the offer as traders in the short term.
Such a trend often precedes large pimples when the retail trade comes in again at higher prices during bullish continuation phases.
Source: Intotheblock
By the way, the number of transactions of ETH streamed The most important thing in $ 1 million to $ 10 million and more than $ 10 million brackets, which rose 143.47% and 285.71% respectively.
These statistics reveal growing confidence from large capital allocators. The transfers of less than $ 1, on the other hand, fell sharply, which underlined the low retailiasm.
Historically, peaks in a large transaction volume often predict large price shifts as a result of whale accumulation or redistribution.
Internship set for an outbreak
Ethereum’s Exchange reserves drop With 0.34%, continuing a downtrend in the longer term. The current balance is around 18.7 million ETH.
When reserves deteriorate, this often suggests that investors move tokens in cold storage or personal detention, which reduces the chance of sale on the sales side.
This behavior supports the accumulation fee, because long -term holders usually withdraw from fairs during consolidation.
Liquidation heats on Binance show dense short positions between $ 2,700 and $ 2,830. These zones represent potential short squeeze triggers.
If Ethereum pushes through these levels, forced back purchase can feed a rapid upward movement. In particular, this liquidity building creates a battlefield between bulls and bears.
Source: Coinglass
A bullish continuation pattern of the textbook?
Ethereum cuts a classic cup and handle structure on the daily graph. This bullish pattern approaches the completion, with $ 2,830 as the neckline.
A decisive outbreak above this level could unlock a measured movement to $ 3,400. The symmetry of the pattern, combined with volume babilization and rising accumulation statistics, reinforces its credibility.
Technically, this structure often reflects market consolidation before the continuation of the trend.
If the buying of Momentum continues to exist and the liquidation levels break, Ethereum could collect considerably in the coming weeks.
Source: TradingView
In the end, all signs suggest that Ethereum builds up for a large outbreak. From rising whale and investors that forms the clear technical structure, the confidence seems to be shifting in favor of the bulls.
If the resistance of $ 2,830 breaks, Ethereum can attract renewed interest and momentum, possibly accelerate to $ 3,400.